Grand plans for seafront hotel in £2m deal
PUBLISHED: 05:08 21 September 2006 | UPDATED: 09:55 24 May 2010
THE Royal Pier Hotel in Weston has been sold in a £2million deal. Businessman James Scott and Saudi property developer Wahid Samidy have exchanged contracts with hotel owner Tim Shaw. Trading as Birnbeck Investments Limited, they have grand plans for the
THE Royal Pier Hotel in Weston has been sold in a £2million deal.Businessman James Scott and Saudi property developer Wahid Samidy have exchanged contracts with hotel owner Tim Shaw.Trading as Birnbeck Investments Limited, they have grand plans for the 40-bed hotel in Birnbeck Road.The business partners had wanted to buy Birnbeck Pier as well as the hotel opposite, but were beaten to it by Urban Splash.There is already planning permission to build 14 apartments, a mix of one, two and three-bedroomed flats and penthouses at the site.Mr Samidy said they are working with architects to draw up exciting new plans for the building.He said: "It is an excellent location. Jim's passion for the town, enthusiasm for the project and all the hard work he has already put in convinced me this is a worthy scheme."We are waiting until there is more news on what will happen with the pier before making any decisions about how to develop the hotel. We might extend the building but it will be either a leisure or residential development."We have a prize asset and are 100 per cent committed to the development."The hotel is symbiotic with the pier and we want to develop it so it enhances and regenerates the whole area."I've been down to Weston so many times and made many good friends. I genuinely believe in the town and this project."Mr Scott, aged 49, who is buying a home in Weston, said: "I wanted to buy the pier last year but my backer dropped out and I lost £40,000 but now I have a secure backer who has the collateral and we have secured the land-side property instead."Mr Scott met his backer in Surrey where Mr Samidy's company is building 250 properties in a £100million scheme.